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In March 2020, as COVID 19 began to take hold of world economies, car sales in the UK fell 44.4% compared to the same month a year earlier and the year-to-date sales were down 31.0%. This concerning statistic for the industry is the result of dealerships and factories going into lockdown whilst travel in general remained heavily restricted. However, there is one market segment that is bucking the trend.

The Society of Motor Manufacturers and Traders (SMMT) has seen an uptake with the electric vehicle (EV) market, recording 56,863 electric vehicles (across all EV powertrain types) in March 2020. This figure is notably higher than all electric vehicle sales recorded in the first quarter of 2019, with Battery Electric Vehicles (BEVs) achieving 197.4% in March 2019 sales, compared to the same month in 2020, with 11,694 recorded sales.

Another significant milestone was achieved in March, where the market share for all EVs reached 22.3% of car sales. This exceeded the share taken by diesel powered cars (17.6%) for the same period.

A key driver for this growth is Government support towards the transition to EVs with a range of grants and other financial benefits available for individuals and companies looking to make the switch. From 6th April, company cars with zero carbon emissions qualify for 0% Benefit in Kind tax. This is a key incentive with sizeable increases in orders for EVs already reported, with increases of 300% for salary sacrifice, and 250% for company car fleets. Coupled with support in the form of grants for cars and charge points, EVs have become an attractive option for employers and employees.

If you or your company would like to discuss installing charge points at your home or office please contact us today to discuss the range of options and how you may qualify for Government support.


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